If a Pvt Ltd company has filed for loss first year. And if second year is also loss, is it necessary to file returns before 30th Sept?
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Company tax file query
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For claming loss of first year it is not required to file return before due date but for to carry forward second year loss it is mandatory to file return on or before due date.
| Originally posted by : sudhir sharma | ||
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For claming loss of first year it is not required to file return before due date but for to carry forward second year loss it is mandatory to file return on or before due date. |
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Hi, Thank you for this info,
I have few more questions
- Are retail companies entitled for audit even if their yearly turnover is below 60Lacs? is it necessary to do it?
- If filing second year as loss, post 30th September, will there be any penalty?
- I heard last date is being extended this year, is it true?
Thanks for the help!
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